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Fly News Breaks for July 19, 2019
PYPL
Jul 19, 2019 | 07:34 EDT
Wedbush analyst Moshe Katri raised his price target for PayPal to $140 from $125 and maintained an Outperform rating following details from an industry journal related to ongoing efforts for monetizing Venmo. In a research note to investors, Katri says that beyond ongoing revenue generation at Venmo from Instant Cash, Pay with Venmo and The Venmo Card, the article points to ongoing plans to integrate Venmo into PayPal's Hyperwallet, which helps organizations manage payments/payroll to freelancers, as well as into Xoom, PayPal's money transfer service. Katri says he continues to see multiple potential avenues for significantly expanding Venmo's user base and ongoing run rate while improving profitability levels.